By making the Ener1 bankruptcy a political issue, the press is missing the real story regarding stock fraud and our continuing reliance on fossil fuels
Rather than go into a long dissertation in which I provide my usual in depth analysis, I am going to take a page from Seth Godin’s blog and reduce today’s post to a few quick and easy to grasp sound bites, as I believe that it is truly important to get beyond the trees and see the forest regarding the two real issues behind the Ener1 story.
1. Ener1 is a story about the public’s continuing love affair with fossil fuels.
The failure of ener1 should not come as a surprise to anyone. In fact earlier this year I wrote a 2-Part story titled “With the failure of the electric car concept in America what impact will this have on the lithium ion battery global supply chain?” that provides an in-depth look at the sector.
What is interesting is that this recent failure has little to do with failed policy per say, and more to do with the public’s unwillingness to end its longtime love affair with fossil fuel.
The question is simply this . . . how can we turn our own unwillingness to move away from fossil fuels into a shortcoming on the part of any political party? It’s like ignoring our parents warning not to put our hands on a hot stove and then getting mad at them when we don’t listen and get burned.
2. The elephant in the room, which is the securities fraud class action suit against Ener1.
The peril of people focusing on Ener1 as a convenient political bat with which they can bash each other, is that this little tidbit of information is being overlooked completely . . .
What does this all mean?
Stop using stories such as the Ener1 bankruptcy as a self-serving political battering ram in an election year, in which each party points the accusatory finger of incompetence at each other, which misses the real point and accomplishes nothing.
Your thoughts are of course welcome as always.